by Brett Molina, USAToday

by Brett Molina, USAToday

BlackBerry reported first-quarter revenue of $966 million and an adjusted loss of 11 cents per share, topping analyst estimates compiled by Bloomberg.

Blackberry stock closed 9.7% higher, ending the day at $9.09 per share.

"Over the past six months, we have focused on improving efficiency in all aspects of our operations to drive cost reductions and margin improvement," said Chen in a statement. "Looking forward, we are focusing on our growth plan to enable our return to profitability."

The company reported net income of $23 million, up from an $84 million loss reported the same time last year.

"There are lots of positives this quarter," says Colin Gillis of BGC Partners.

Under the leadership of Chen, who took the top position at BlackBerry late last year, the company has shifted focus from hardware to services such as BlackBerry Messenger. Chen's arrival marked a major management shakeup after the launch of the company's BlackBerry 10 smartphone line failed to attract consumers away from market leaders Apple, Google and Samsung.

"He's doing all the right things," says Gillis. "He got a management team in there that's got the company focused and pointed in the right direction."

The company continues to press forward on making smartphones, such as the Z3 device for emerging markets. On Wednesday, BlackBerry announced a deal to bring Amazon's Appstore to their devices to bolster the selection of mobile apps.